As per the new MoU, both sides would use an existing pipeline to transport hydrogen in the future.
This comes within the framework of the constant development of the joint economic relations between Egypt and China, as well as the strategic development cooperation relations
Molla added during the Egyptian Petroleum Association seminar that 384 wells were drilled, and more than 85 percent of the foreign partners' accrued dues from 2011 to June 2013 were paid.
The company said in a statement to the Egyptian Stock Exchange, Wednesday, that the fund manages $ 3.4 billion, is headquartered in Luxembourg, and has offices in France, New York and the Bahamas.
The contract is for a 10 year-period, and the total expected revenue for the contract period is 2.5 million dinars ($ 8.3 million).
The agreement signed in December 2020 includes resuming production at Damietta's natural gas liquefaction plant, and increasing EGAS' capacity to liquefy the plant.
The SPA worth $646 million with additional payments of up to $280 million between 2021 and 2024, contingent on the oil price and the results of further exploration.
Rabie said that the agreement is a basic step to start the measures to establish the anticipated partnership between both sides after ending the economic fiscal studies and all the studies necessary for the project.
The agreement was signed by Chief Representative of JICA’s Egypt Office Omura Yoshifumi, and Vice Minister of Finance for Fiscal Policies and Institutional Reform Ahmed Kojak on behalf of the Minister of Finance, Mohamed Maait.
The agreement stipulates the allocation of a grant in the amount of €1 million to provide advisory services for launching a project for the construction of the dry port and logistical center in the tenth of Ramadan city
The deal is part of greater efforts aimed to help Egyptian private companies to deal with the negative impacts of the COVID-19 pandemic, giving attention to creating equal opportunities for women at work.
Donaldson clarified that his country’s current investments in Egypt recorded $5.5 billion, noting that Egypt Is one of the strongest elements in terms of UK’s trade expansion.
Each state must respect the sanctity of international treaties affirmed in Vienna Convention on the Law of Treaties signed in 1969, the professor of general international law stipulates.
The TFSCB will support efforts by Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) to outline a national strategy to achieve that.
The financing comes for the completion of the project of improving the performance of the oil and gas sector in Egypt.
This agreement aims to secure immediate funding from multilateral and bilateral development partners for budgetary support and assistance in mitigating the impact of the pandemic.
The agreement includes the establishment of centers of competence specializing in the fields of renewable energy and energy efficiency in applied technology schools in Hurghada and Aswan.
The Minister revealed that the purpose of the project is to renovate and modernize the Cairo Metro Line 44km from North to South across the heart of Cairo and connecting with both Line 2 and Line 3.
This agreement comes within the company’s land monetization strategy which secures a total of c. LE 535 million of cash inflows from these agreements to date.
The first agreement entails a development of Telecom Egypt transmission and infrastructure services' commercial model with Etisalat Misr.